Factory orders were up 2.7% in October, the fourth straight monthly gain and the largest since January 2015, the Commerce Department reported today. Factory orders have been are showing some signs of recovery after two years of weakness.
Today oil prices slipped off previous one-year highs, as traders took profits following the sharp rally that followed last week’s decision by OPEC to cut production. Brent crude fell 37 cents to $54.56 a barrel. West Texas Intermediate futures were trading down 61 cents, to $51.20 a barrel. Yesterday both markets hit their highest levels since July 2015.
Gold prices declined Monday as Italian voters rejected reforms amid prospects that the Federal Reserve may tighten monetary policy at a faster pace. February Gold delivery declined $1.30, to $1176.50 an ounce. March silver was at $16.90 an ounce.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
